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Mar 23, 2009

Daily podcast – March 23, 2009

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This podcast is brought to you by the Bearing Man Group - South Africa's finest source of quality engineering components and expertise.

Monday, March 23, 2009.

From Creamer Media in Johannesburg, I'm Shannon O'Donnell.

Making headlines today:

On Friday, Transport Minister Jeff Radebe strongly criticised freight logistics group Transnet. This was on reports that the utility was failing to adequately consult with those of its workers destined to be transferred next month across to the newly formed Passenger Rail Agency of South Africa, or Prasa.

Prasa was unveiled officially on Friday. It would comprise the assets and employees of the already merged South African Rail Commuter Corporation and Metrorail with those of Shosoloza Meyl and Autopax, which currently fell under Transnet. Further, property management and development company Intersite would also be consolidated into the 13 000-plus-employee entity.

Radebe appealed to Transnet to conclude all necessary consultations "without any further delay" so that the transfer of the businesses to Prasa could be concluded in line with the April 1, 2009, timeframe set out in enabling legislation promulgated in December by President Kgalema Motlanthe.

World Bank President Robert Zoellick has warned of the consequences of an expected steep decline in economic growth across the world this year.

Zoellick told a conference in Brussels that he thought 2009 was going to be a very dangerous year. He cited World Bank forecasts of a spike in infant mortality associated with the economic crisis, and a fall-off in world trade.

Zoellick proposed that the Group of 20 major and emerging economies establish a review process to see whether further stimulus measures would be needed to kick start recovery.

Also making headlines:

The automotive sector proposes a data base to assist retrenched workers.
Misgivings linger about the government's capacity to avert a water crisis.
Business confidence in the manufacturing sector almost halves in the first quarter of 2009.
And, a South African aviation firm receives accreditation from a US aerospace group.

That's a round up of news making headlines today. For more on these and other stories please visit


Edited by: Shannon de Ryhove
Creamer Media Senior Deputy Editor Polity & Multimedia
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